Hempel has sold its Russian Assets to Atomstroykomplex

Denmark’s ship paint group giant Hempel delivered strong financial results exceeding any expectations.

The company claims that has achieved in 2023 “historic high organic revenue growth” of 13.7 per cent and revenue of €2,351m.

In accordance with Hempel’s results, this compared to the year before represents an increase of €192m.

Hempel’s adjusted Ebitda reached €349m compared to €257m in 2022, whilst the adjusted Ebitda margin was 14.8 per cent.

“Hempel delivered record-breaking results in 2023. We set ambitious targets, and we surpassed our expectations,” said Michael Hansen, group president and chief executive of Hempel A/S. “The strong results were thanks to a stellar performance across our business.”

The outlook now for this year is expected to be “single-digit organic revenue growth and an Ebitda margin around 15 per cent,” the company says.

Meanwhile, Hempel made last year significant progress towards its ESG commitments, decreasing its combined scope 1&2 emissions by 51 per cent compared to its 2019 baseline.

“Putting sustainability at the heart of everything we do means we not only focus on lowering emissions from our operations and reducing the resources we use, but also continue to develop products and solutions that support our customers on their sustainability journeys.

“For example, our high-performance hull coatings helped customers in the maritime industry reduce their CO2e emissions by 6.5 million tonnes in 2023 alone. This is an improvement of 16 per cent compared to 2022,” concluded Michael Hansen.

Source: Hempel